Business Bayani PH

The National Economic and Development Authority (NEDA) is urging Congress to pass important laws for the country’s economic and social progress. This call comes as the 19th Congress resumes its second regular session on January 22.

According to NEDA secretary Arsenio M. Balisacan, passing these laws is crucial to staying on track with the Marcos administration’s goal of inclusive and sustainable development by 2028. Balisacan stresses the importance of addressing the weaknesses in our economic system.

One key bill focuses on creating the Department of Water Resources, as highlighted in President Ferdinand R. Marcos, Jr.’s recent State of the Nation Address. 

This department aims to improve the management of water resources, which currently involves over 30 agencies with overlapping functions. The lack of coordination affects water supply for around 12.40 million people, particularly those relying on unsafe sources.

NEDA also emphasizes the need for the Open Access in Data Transmission Act. This bill aims to bridge the digital gap by encouraging the development of data infrastructure, promoting competition, and unlocking the full potential of e-commerce, digital trade, and applications in various fields.

The proposed legislation also seeks to make the telecommunications sector more accessible by removing the requirement for a legislative franchise, ensuring better services for consumers at competitive prices.

Additionally, NEDA supports fiscal reforms, building on the recently passed Ease of Paying Taxes Act. These reforms include measures like the Real Property Valuation and Assessment Reform (RPVAR) and the VAT on Digital Services, designed to enhance revenue generation and efficiency in tax administration.

The proposed Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) aims to improve tax administration, encourage investments, and make it easier to do business in the country.

NEDA also backs the Economy, Planning, and Development Bill, which aims to make NEDA a permanent part of the Department of Economic Planning and Development. This move is intended to strengthen the government’s ability to plan for the long term, in line with the country’s vision for 2040.

Balisacan emphasized the people-centric approach, saying, “At NEDA, our plans are people-centered. The passage of the NEDA Bill will allow us to better leverage our expertise in people-centered development planning across all national and local sectors, ensuring that all Filipinos feel the benefits of such exercises.”

As the legislative session continues, the timely passage of these bills is crucial for realizing the vision of a transformed and inclusive Philippines by 2028.◼